Midday Forex: Leu slightly lower against euro

The National Bank of Romania set a reference rate of 4.2234 lei/euro, up 0.17% from Friday, after poor morning trade in the inter-bank market.

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On Friday, the central bank set a reference rate of 4.2163 lei/euro.

After the sudden drop on Friday night, the leu opened lower in the morning trade, at 4.2340 lei/euro. AT noon, the national currency managed to partially recoup early losses and rose to 4.2220 lei/euro. At 13:05, banks were trading a euro for 4.2230 lei.

In the region, the Polish zloty had a poor start but grew afterwards from 4.1150 to 4.07 zloty/euro. The Hungarian forint dropped in the morning from 281.20 to 282.30 versus euro, but recouped the lost ground at noon and increased to 278.60 forints/euro.

Versus the U.S dollar, the National Bank of Romania set a reference rate of 3.4460 lei/dollar, down 0.91% from 3.4775 lei/dollar on Friday.

Midday Forex: Leu drops slightly

The National Bank of Romania set a reference rate of 4.2628 lei/euro, up 0.08% from 4.2594 lei/euro yesterday. Against the US dollar, the national currency grew to 3.2839 lei/dollar.

The national currency closed lower yesterday, in line with expectations, ING Bank analysts said, and finished trading at 4.2670 units/euro. In the region, leu’s peers also fell more than the national currency.

“This performance of the national currency could suggest the fact that the central bank has limited the weakening of the leu”, ING experts said. The depreciation pressures exerted over the national currency could have been the result of concerns on the...